• April 23, 2024


All the latest cryptocurrency news

FaniTrade Launches The FANI Utility Token Which Unlocks 30% APY Through Staking And Other Benefits

ByLouis Adams

Feb 23, 2022
Reading time: 2 minutes

FaniTrade is excited to announce the launch of FaniToken, the utility token of its exchange and ecosystem. The token has multiple use cases, including serving as a payment method, FaniLotto participation, lowering transaction fees, and much more. 

FaniTrade continues to expand the appeal of its exchange and ecosystem through the launch of FaniToken. Users can acquire the token on the FaniSwap platform and use it to provide liquidity to pools, farm with LP tokens, or staking FANI. Moreover, the token enables users to create new liquidity pools on the trading platform, adding an extra utility layer.

Other utility features of FaniToken include:

  • FANI is used as a wage when creating a contract in FaniTrax.
  • Participation in FaniLotto requires FANI
  • FaniLends – marginal interest payments are charged in FANI
  • FaniLikes trade mirroring services will rely on FANI as a payment method.
  • Users paying transaction fees in FANI will benefit from a 0.25% discount. A total of 0.03% of that discount will be redistributed to holders.
  • Holders can invest FANI in FaniEarn to receive daily FANI rewards at 30% APR on average.
  • FANI tokens represent governance rights for the upcoming DOA, letting holders participate in crucial development and revenue strategy platform decisions.

There are many good reasons to be excited about the FaniToken launch and unlock the potential FANI brings to the table. Moreover, the token unlocks tremendous utility for the FaniTrade platform and the encompassing ecosystem, with various revenue-generating opportunities for long-term holders. The token is different from assets issued by other trading platforms, which often provide little or no utility at all.

Acquiring the FANI token is possible through the FaniTrade platform. A total of 550 million FANI will be created, of which 220 million remain locked. Additionally, the remaining 330 million tokens will be allocated to the community throughout various initiatives, airdrops. etc. The circulating supply is 30,2 million FANI. 

FANI Is issued on the Solana blockchain, a network that is more efficient and much faster than competing blockchains. Moreover, Solana does not rely on proof-of-work like Bitcoin or Ethereum. 

Instead, the network uses the Proof of History mechanic, a “clock” for blockchain timestamping and record keeping. That mechanism is combined with Proof-of-Stake to establish a hybrid consensus algorithm, yielding unique outputs which are nearly impossible to predict. 

About FaniTrade 

FaniTrade‘s mission is to create a comprehensive suite of professional DeFi applications for crypto investors. Our platform gives users access to optimized institutional-grade tools while offering much cheaper gas fees, unlike Ethereum-based applications.

Website: www.FaniTrade.com

Twitter: https://twitter.com/FaniTradeDex

Telegram: https://t.me/fanitradedex 

Instagram: https://www.instagram.com/fanitrade/ 

Discord: https://discord.gg/USmFmTrGDY